Marquette Financial completes acquisition of Texas bank

Minneapolis-based Marquette Financial Companies has closed on its acquisition of State Bank and Trust Company, Carrollton, Texas..Purchase of the $185 million State Bank adds three branches to the Dallas footprint of Marquette's Meridian Bank Texas. Fort Worth-based Meridian previously had two branches in the area..The acquisition brings Meridian's total assets to just under $450 million.."We're very pleased to complete this transaction, which brings together two family-owned banks with complementary geographic and service lines," said Glenn Monroe, chair and CEO of Meridian. "We are excited to welcome the State Bank & Trust Company employees and the customers they serve to the Meridian Bank Texas family.".State Bank, previously owned by the Bright family of Dallas, focused on business banking and commercial real estate. Meridian focuses on commercial real estate, energy lending and business banking.."Our industry has gone through dramatic changes during the last five years and competition is only getting tougher. We believe this acquisition will enhance our ability to compete in the markets we serve through a stronger balance sheet and a dedication to personalized customer service," Monroe said..Terms of the deal, announced in March, were not made public..Commerce Street Capital, LLC served as financial advisor to State Bank and Trust Company in the transaction..Opened in 2007, Meridian Bank Texas is part of Marquette Financial Companies, a $1.2 billion privately held banking and financial services holding company owned by the Pohlad family. Marquette also owns the $576 million Meridian Bank, N.A., Phoenix.